1701 Proclamation of Philip V in Mexico Medal. Betts-89, Van Loon IV, 327, Gr-PV-1, Med-2, Her-6. Cast Silver. AU Details--Repaired (PCGS). 32.87 mm. 15.49 grams. Sharply defined on the obverse, the reverse is somewhat softer -- typical of the type, see below -- yet still suitably bold. Medium silver-gray surfaces are relatively smooth in hand, but closer inspection with a loupe reveals light pin scratches and evidence of smoothing in the obverse field that helps to explain the PCGS qualifier. A royal decree was sent to the Noble and Loyal City of Mexico directing them to proceed with proclamation ceremonies for King Philip V. In compliance with the decree, the Viceroy of Mexico City stated in a letter dated March 12, 1701, that the proclamation ceremonies would commence as soon as possible. The festivities began April 4 with more than 500,000 pesos spent on the festival. The prototype of this medal traces back to the 1700 Philip V proclamation of Cadiz (VQ-12899). The obverse of the 1700 Cadiz proclamation was used to produce the obverse mold with only the final digit in the date being changed to a 1. The reverse mold was created locally in Mexico City, accounting for its debasement in style and lettering. Generations of this basic casting were also used for the 1701 medal of Veracruz Grove-PV-9, as well as the later Mexico City medal of Luis I Grove-LI-2. Considered to be the first medal of Mexico. From our (Ponterio & Associates) NYINC Auction of January 2010, lot 8023. The Grove plate specimen.
